The purpose of this conceptual essay is to challenge the inevitability of living with the destructive beast of speculative market economics in the 4th epoch of global capitalism. We are facing an existential socio-ecological threat from the short-term excesses of financial capitalism, a socially irresponsible form that consumes without producing value and without bearing entrepreneurial risk, benefitting only the few. The fate of roughly 90% of humanity hangs in the balance. The primary contribution of this paper proposes a 5th epoch of capitalism, inspired by Savall and Zardet’s socio-economic and sustainable approach that restores human potential and value creation to spacetimemattering. Applying their conceptual innovation moves capitalism to a Bernácer-Perroux economic universe, with a different curvature capable of reconfiguring organizational story spacetime and resituating the antenarrative of global capitalism.
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Boje, David M. and Hillon, Yue Cai
"The Fifth Epoch: Socio-Economic Approach to Sustainable Capitalism,"
Markets, Globalization & Development Review:
1, Article 2.
Business Administration, Management, and Operations Commons, Other Economics Commons, Strategic Management Policy Commons
David M. Boje is Regents Professor and Distinguished Achievement Professor in Management Department at New Mexico State University. He is an international scholar in areas of storytelling and the creative of 'antenarratives' methods of studying the stories of organizations. He holds an honorary doctorate from Aalborg University and is considered godfather of their Material Storytelling Lab. He founded Tamara Journal of Critical Organization Inquiry.
Yue Cai Hillon, Ph.D., is an Associate Professor of Management at Western Carolina University. Her students learn future-oriented data-intensive strategy creation and socio-economic management consulting for organizational change in an applied business context. She pioneered the study of strategic inflections by imagery deconstruction. Other interests include socio-economic business venturing and narrative methods.